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The video tutorial is a demonstration of a Google Sheet named Easy Transfer and Inventory Records, created by Dennis Buckmaster, a professor at Purdue University. The tool allows for free access, customization, and handling of situations such as moving grain from one location to another. It can be adapted for transfers of inventory from any place to any place by customizing the sheet. The demonstration shows how to use drop-down boxes to input information such as the person moving the grain, the vessel used, and the quantity being transferred.